A potpourri of challenges actually face the world now; many with market implications; all with concerns for society-at-large. The impact a single (as it appears as of now) terrorist can have on a major free-world capital with now the all-too-frequent use of a vehicular assault on civilians has been known a good while. Today's was a combination of mass terror and an attempt by the (apparently Islamic) terrorist to breach the security of Parliament as well.

As the media for sure is covering this story adequately, I'll point out political and hence market implications, which center perhaps not on Great Britain, but on France. The populist Le Pen is trailing her nearest opponent only by 1% in the latest (valid or not) poll; and today's attack could boost her ratings just a smidgen, which could be sufficient to tilt the outcome.

Given that 3 of the seriously injured civilians on Westminster Bridge were in a group of French students on the way to tour Parliament during their Spring break holiday essentially, this will evoke not so distant memories of the Nice attack, where 80 French civilians were struck down by an Islamist. That day I was dining in Ibiza when it happened. Our cruise ship delayed departure a good two hours, as several hundred French passengers needed the cellular connection to check on the well-being of friends and family.

I cannot repeat most words many expressed that night and the next day, as regards fundamentalist Muslim arrogance in demands for submission to the desire not to assimilate in French culture (similar would be true in England). The French grieved and then were seething in anger that more isn't done to stop this barbaric enemy. That attitude is rekindled tonight and may impact an already-testy Election. That impacts the future of the globalist 'bent', or at least newly-threatened actions to impose acceptance of 'immigrant quotas' Brussels demands, such as Poland protested yesterday, upon members. 

In-essence, this attack was on the Anniversary of the Brussels attack; more severe of course; but the point is the timing of elections in Europe AND the upcoming vote to enact Article 50 (likely within a week) by Great Britain as it moves towards BREXIT. After this there's virtually no doubt it's triggered.

As to British and U.S. security conditions; those were already elevated. We had a 'sense' of heightened tensions before the latest electronic limitations on airline carry-on items from the Middle East; but the change in passenger scanning by the TSA here, which quietly had dropped random TSA-Pre from many frequent fliers or those with short international connections. Also we'd observed that London's Metropolitan Police had just rehearsed a simulated 'hijacking of a boat by the Thames within the past week you may recall.

That was also a hint of rising awareness regarding security concerns. What is next? More security access limits, even while professing 'life goes on'. Of course this story is still 'active', and there may be more to this latest attack. This also lends credence to 'why' France and England's (and Germany's for that matter) experience with fundamentalist Islam must not be allowed for a moment to be replicated in the United States. Canada has already had one attack on its Parliament (and media sort of overlooks that) and has a large Muslim population. We're not at all anti-Muslim, but we are when one takes it beyond religion and to a 'cult-like' mandated lifestyle.

That's what's wrong with too many defending it; when the attitude is one of 'submission' and not a commitment to the laws of their country of residence. What I do know from a very pro-immigration and high French official (some of you know who I'm referring to) is the same situation in France as the UK experiences; security services 'overwhelmed' by the number of suspects to keep an eye on. The French official shared thoughts over dinner with yours truly, how Paris cannot properly police, or investigate the 11 million Muslims living there; citizens or not. In fact there is a version of a 'protection racket' I was told about in most-migrant Aggrandizements which denies business (as a for-instance) to a merchant who in any way defies the fundamentalists, or shares information with authorities.
 

This is the kind of challenge not yet faced in Germany; but forthcoming as it now seems; but from a different and unexpected source. And that takes me to a very disturbing Reuters report today quoting Turkey's Erdogan 'again' in his daily diatribes against European opposition to his officials 'campaigning' for votes of Turks living abroad, that if Germany denies this, then "nobody is going to be safe in the streets of Europe". That story was overshadowed or simply not widely reported; but to me is a very big deal coming from a NATO member with aspirations to join the EU. The normally-titular German head of state (President) was very upset and said Erdogan was setting-back years if not decades of efforts to live and work with Turkey, even diplomatic ties.

Tonight, as everyone focuses on Healthcare or revelations that surveillance in some way did occur of Trump's associates, I've chosen to focus a bit on a story you've not likely heard about (including Turkey), because implications are enormous. Not just the gradual relations between Russia and Turkey or Turkey's desire for greater hegemony in the region, but the threat that really arises from this: disruption to the million or more Turks living in Germany as well as neighboring countries, the vast majority of which are secular Turks, with no desire to emulate the fundamentalist insanity of Islamists or leanings that Turkey's President increasingly shows. Erdogan is being quite bold and today included The Netherlands, Denmark and even Norway in his attacks.
 

He is a threat to Europe with the implied prospect of attacks on civilians (of his rocker actually) and a threat to Turks who moves to Europe to escape his oppression and persecution of anyone who truly supports a democratic Turkey. He accuses Germany and Norway (because they gave refuge to a number of Turks fleeing his post-coup witch-hunt last year) of undemocratic policies, when he is the one imposing quasi-dictatorial repression. Enough on this, but it's a very big deal that shouldn't be overlooked.

Bottom-line: terrorism has again reared its ugly head as ISIS itself comes under greater destruction, fortunately, as US Forces aid Iraqis and others in the initial assaults around Raqqa Syria. The association isn't affirmed as yet but ISIS has been calling for just this time of hard-to-predict assaults.

President Trump says he's 'somewhat vindicated' by the revelations that a surveillance monitoring did occur. That doesn't mean really vindication, but it does mean somebody broke laws, and the 'jury is still out' on the outcome.

The Healthcare Bill still looks destined for a down-vote but the White House is claiming they'll get it passed. Hard to imagine Congress voting to retain the Obamacare plan essentially, but we'll see. One would think it's not taken to vote unless Ryan is confident of passage. Yes I still think it's flawed but they want it out of the way to focus on tax reform and capital repatriation Bills.
 

In-sum: if they can either pass it, or pass it with modifications later, or defer it, or just get-on to the economic plans, fine for markets having a prospect to rebound. If not you have a problem for the market coming up rather soon.